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American International Group and the Federal Reserve Bank of New York (FRBNY) are at odds concerning whether the insurer has authority to sue banks over virtually worthless mortgages they sold that drove AIG to seek a federal bailout.

American International Group and the Federal Reserve Bank of New York (FRBNY) are at odds concerning whether the insurer has authority to sue banks over virtually worthless mortgages they sold that drove AIG to seek a federal bailout.

American International Group has been regulated on a consolidated basis by the New York Federal Reserve Board since September of 2012.

American International Group has been regulated on a consolidated basis by the New York Federal Reserve Board since September of 2012.

The Treasury Department is selling today its remaining 16 percent of American International Group common shares, putting an end to the governments 50-month shotgun financial tryst with the global insurer.

The Treasury Department is selling today its remaining 16 percent of American International Group common shares, putting an end to the governments 50-month shotgun financial tryst with the global insurer.

Members of the Senate Banking Committee and a property and casualty trade group took issue Wednesday with new international capital standards that U.S. regulators are considering for regulating systemically significant insurance companies as well as insurers that operate savings and loans.

Members of the Senate Banking Committee and a property and casualty trade group took issue Wednesday with new international capital standards that U.S. regulators are considering for regulating systemically significant insurance companies as well as insurers that operate savings and loans.